UKEB Work Plan 8th April 2021

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8 April 2021

UKEB Work plan—adoption projects

Major—endorsement and adoption project

Project	Issued	Last milestone achieved	Status / Effective Date	Apr 2021	May 2021	Jun 2021	Jul 2021	Aug 2021	Sep 2021
IFRS 17 Insurance Contracts Amendments to IFRS 17	05/2017 25/06/2020		01/01/2023	* 27/04 TAG meeting Outreach Planning IA	* 25/05 TAG meeting Outreach Drafting DECA	* Outreach Drafting DECA Drafting IA	* 08/07 TAG meeting Drafting DECA Drafting IA	* Drafting DECA * Drafting IA	* Drafting DECA * Drafting IA

Narrow-scope amendments—endorsement and adoption projects

Project	Issued	Status / Effective Date
Annual Improvements to IFRS 2018–2020	14/05/20	01/01/2022
Onerous Contracts—Cost of Fulfilling a Contract (Amendments to IAS 37)	14/05/20	01/01/2022
Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16)	14/05/20	01/01/2022
Reference to the Conceptual Framework (Amendments to IFRS 3)	14/05/20	01/01/2022
Classification of Liabilities as Current or Non-Current (Amendments to IAS 1)	23/01/20	01/01/2023
Deferral of Effective Date Amendment	15/07/20
Accounting Policies and Accounting Estimates (Amendments to IAS 8)	12/02/21	01/01/2023
Disclosure Initiative—Accounting Policies (Amendments to IAS 1)	12/02/21	01/01/2023
Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to IFRS 16)	31/03/21	01/04/2021
Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12)	Amendment expected May 2021	Expected 01/01/2023

UKEB Work plan—influencing projects

Major—influencing projects

Project	Issued	Status / Effective Date	Apr 2021	May 2021	Jun 2021	Jul 2021	Sep 2021
DP Business Combinations under Common Control (UKEB approach: narrow scope)	30/11/2020	Comment period ends 01/09/2021	* Develop and publish survey	* Discussion at Board * Develop draft comment letter	* Publish draft comment letter	*
Rfl Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12	09/12/2020	Comment period ends 10/05/2021	* Outreach * Develop and publish draft comment letter	* Discussion at Board * Finalise and submit comment letter	* Develop and finalise Feedback Statement	*
ED Rate-regulated Activities	28/01/2021	Comment period ends 30/07/2021
RfI IASB Third Agenda Consultation	30/03/2021	Comment period ends 27/09/2021	* Outreach informal roundtables Develop and publish draft comment letter	* Outreach Formal panel event with IASB Informal outreach	* Discussion at Board * Informal outreach	* Discussion at Board	* Finalise and submit comment letter
ED Disclosure Initiative—Targeted Standards-level Review of Disclosures (IFRS 13 & IAS 19)	25/03/2021	Comment period ends 21/10/2021
Dynamic Risk Management	Core model feedback expected 04/2021
Rfl Post-implementation Review of IFRS 9—	Expected Q3/2021

Narrow-scope amendments—influencing projects

Project	Issued	Last milestone achieved	Status / Effective Date	Apr 2021	May 2021	Jun 2021	Jul 2021	Aug 2021	Sep 2021
Classification and Measurement
Disclosure Initiative—Subsidiaries that are SMEs	ED expected Q3/2021
ED Lack of Exchangeability (Amendments to IAS 21)	Expected 04/2021

UKEB Work plan—other IASB projects

Comments from IASB work plan 8 April 2021

Project	HI 2021 Projects	H2 2021 Projects or timing not specified
Standard-setting projects
Financial Instruments with Characteristics of Equity	Exposure Draft expected	Final Standard expected
Primary Financial Statements (based on ED General Presentation and Disclosures)
Narrow-scope amendments
Availability of a Refund (Amendments to IFRIC 14)	Decide project direction expected
Provisions—Targeted Improvements	Decide project direction expected
Research projects
Equity Method	Decide project direction expected
Extractive Industries	Decide project direction May 2021
Goodwill and Impairment (based on DP Business Combinations—Disclosures, Goodwill and Impairment)	DP feedback April 2021
Pension Benefits that Depend on Asset Returns	Review research April 2021
Other projects
Management Commentary	ED expected May 2021

UKEB Work plan—completed influencing projects

Project	Status	Last milestone achieved
ED Lease Liability in a Sale and Leaseback (Proposed amendment to IFRS 16) issued on 27 November 2020 Comment period ended 29 March 2021	-	Submitted comment letter 26 March 2021
ED Covid-19-Related Rent Concessions beyond 30 June 2021 (Proposed amendment to IFRS 16) issued on 11 February 2021 Comment period ended 25 February 2021	On 10 March 2021 the IASB agreed finalise the proposal and expect to issue the Amendment on 31 March 2021	Submitted comment letter 25 February 2021
DP Business Combinations—Disclosures, Goodwill and Impairment issued on 19 March 2020 Comment period ended 31 December 2020	Monitoring IASB re-deliberations	Submitted comment letter 29 January 2021
ED General Presentation and Disclosures issued on 17 December 2019 Comment period ended 30 September 2020	Monitoring IASB re-deliberations	Submitted comment letter 30 September 2020

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